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first direct Stocks and Shares ISA

FAQs

Who's eligible to open a first direct Stocks and Shares ISA?

A Stocks and Shares ISA can be opened by individuals, aged 18 or over, and either a resident in the UK or working overseas as a Crown employee, or married/in a civil partnership to someone who is. You also can't have subscribed to another ISA in this current tax year, but you can have one cash and one stocks and shares ISA per tax year.

What are the tax advantages of a Stocks and Shares ISA?

A stocks and Shares ISA is a tax efficient way of saving or investing as all income and capital gains are exempt from any personal liability to UK Income Tax and Capital Gains Tax.

How many ISAs can I have and how much can I put in?

You must not subscribe to more than one stocks and shares ISA, more than one cash ISA, more than one innovative finance ISA, or more than one lifetime ISA in the same tax year. You must not subscribe more than £20,000 in total to ISAs during the 2017/18 tax year.

How are my dividends paid?

We'll collect any dividends on the investments held in your ISA and put them into your ISA settlement account.

Do I receive interest on cash held within my first direct Stocks and Shares ISA?

Yes. To view our current rates please select 'Sharedealing current rates' within your Sharedealing service online.

What happens to the money if I sell some shares within my ISA but haven't decided what to buy next?

Surplus cash may be held in an ISA while you make your mind up. You'll receive interest on the money until it's invested again.

Important Information

The value of investments (and any income received from them) can fall as well as rise, and you may not get back some or all of what you invested. For some investments exchange rate fluctuations will have greater impact to the value of shares depending on their level of exposure to overseas markets.

Any investment should be considered as a medium to long-term investment - so should be held for at least five years.

Early withdrawals on fixed term products could mean you may get back significantly less than you paid in.

The value of the tax benefits depends on your individual circumstances - and tax rules may change at any time in the future.

The information on this site definitely isn't advice - we don't give financial advice. If you need any, you should speak to an independent qualified financial advisor.

If you apply direct, without first receiving advice, you should understand that we are not required to assess the suitability of funds for you. So, you won't be protected by the FCA's rules on assessing suitability, if you have any doubts about any investments, please speak to an independent qualified financial advisor.

Open a Stocks and Shares ISA

Existing customers

If you've got a first directSharedealing Account you can apply for a Stocks & Shares ISA online - log on, open your Sharedealing Account, go to Products & Services and select ISA.